According to The Wall Street Journal, investor advocates and the Obama Administration are pushing for more regulation in financial services, but those who actually work in the field say we need regulation in the areas that aren't regulated already. Allowing FINRA to regulate the sale of products and services in this manner would be redundant, since state and federal authorities regulate this area now.

Michael Kerley, senior president of the National Association of Insurance and Financial Advisers, says simply, "FINRA doesn't have jurisdiction to regulate these products." Austin Kanter, a chartered adviser in Mississippi asked the Journal, "Why add another layer of regulation to something that isn't broken?"